Solana Price Prediction: SOL Registers Marginal Increase After Slipping Below $95

Daily Solana SOL Technical Analysis

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Last Updated February 15th 2022
3 Min Read
  • The Solana price is marginally up during the ongoing session, as buyers and sellers look to establish control. 
  • SOL has been extremely bearish in recent sessions and had dropped to $92 over the weekend. 

The Solana price is marginally up during the current session after slipping to $92 over the weekend. SOL has been extremely bearish and had dropped by over 8% on Friday, slipping below the 20-day SMA. The weekend saw SOL remain in the red, as it registered a marginal fall on Saturday and then dropped by over 4% on Sunday, falling to $92.84. The current session sees SOL at $93 as buyers look to push the price higher

Solana Price chart Indicates SOL Could Push Towards $95 

The Solana price was quite bullish over the previous weekend, rising by nearly 11% on Friday and pushing above the 20-day SMA. The weekend saw SOL remain in the green, rising by 1.05% on Saturday and 1.35% on Sunday to end the weekend at $115.37. SOL continued to push higher on Monday, rising by almost 2%, before dropping back on Tuesday, falling by over 3% and dropping to $113.56.

Image: SOL/USD daily

Image: SOL/USD daily chart 021522

The Solana price registered a marginal increase on Wednesday before dropping back on Thursday, falling by 6.49% to $106.58. SOL continued to drop on Friday, slipping below the 20-day SMA to $97.59 and then registering a marginal drop on Saturday to start the weekend on a bearish note. Sunday saw SOL continue to drop as it fell to $92.84 before recovering during the ongoing session.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop.

Image: SOL/USD 4-hour

Image: SOL/USD 4-hour chart 021522

Looking at the 4-hour Solana price chart, we can see that SOL had dropped to $110.93 on the 8th after slipping below the 20-bar SMA. At this level, the 50-bar SMA was acting as support, and SOL could recover, pushing up to $113.45 on the 10th. However, SOL could not push past the 20-bar SMA and fell back, slipping below the 50-bar SMA and falling to $105.21. SOL registered a marginal increase from this point but fell back significantly, dropping to $94.96 on the 12th and then $92.26 on the 13th before recovering and moving to its current level of $93.

We can see that the MACD and Parabolic SAR have flipped to bullish, indicating that we could see the price push higher.

Solana Price Is Expected To Reach These Levels 

The Solana price chart shows that SOL has been extremely bearish in recent sessions but has registered a marginal recovery during the ongoing session. If the current sentiment persists, we could see SOL push to $95 and above.